Gyeongju, a city in southeastern South Korea, has been selected as the location for the country’s largest hydrogen fuel cell power plant.
This ambitious project, costing 771.6 billion won or about $552.8 million, aims to provide significant economic advantages to the region. The plant will have a capacity of 107.9 megawatts and is expected to generate sufficient electricity to supply 270,000 households per year. Scheduled to begin construction in March, the plant is projected to become operational by March 2028.
The government’s decision to place the plant in Gyeongju aligns with its strategy to enhance the economies of less-developed areas. It is part of a broader initiative to promote regional development through public and private investment. The power plant is anticipated to offer a stable electricity supply to nearby industrial areas, which can stimulate growth in related industries.
This project is the fourth endeavor backed by a government-led fund focusing on revitalizing local economies. The investment model being used leverages both government support and private sector resources to maximize economic benefits.
